322 Ridge Avenue, Allentown, PA 18102 (MLS # 772055)

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PRICE $400,000 BEDS 5 BATHS 3 HOME SIZE 3,978 sqft LOT SIZE 5,010 sqft Request More Info Schedule a Showing

Excellent mixed-use investment opportunity in the heart of Allentown offering immediate income and significant value-add potential. This solid brick building features two residential units and a commercial space with approved plans for conversion into a spacious 3-bedroom, 2 full bathroom residential unit, along with a shared laundry area. The property currently generates reliable income with the 3-bedroom unit rented at $1,550 per month and the detached garage rented separately for $285 per month, while the vacant 2-bedroom unit presents an excellent opportunity for owner-occupancy or market-rate leasing. Both residential units feature updated kitchens with modern cabinetry, granite countertops, stainless steel appliances, updated flooring, and renovated bathrooms. The commercial space offers exceptional upside with its open layout, high ceilings, multiple entry points, and flexibility for residential conversion or continued commercial use, allowing investors to maximize future cash flow and overall property value. Additional features include updated mechanicals, separate entrances, exposed brick accents, and a prime location near downtown Allentown, major highways, shopping, dining, and redevelopment projects. Whether you're an investor seeking strong current income with upside or looking to reposition the property for increased returns, this is a rare opportunity in a rapidly growing area.